L Catterton hires Chetan Naik to deepen India consumer bets
L Catterton, the global consumer-focused investment firm, has appointed Chetan Naik as managing director for India as it expands its investment platform in one of
L Catterton, the global consumer-focused investment firm, has appointed Chetan Naik as managing director for India as it expands its investment platform in one of its key growth markets, the company said in a statement on Wednesday. Based in Mumbai, Naik will work closely with Sanjiv Mehta, executive chairman of L Catterton India, and partner Vikram Kumaraswamy to strengthen and expand the firm's platform in the country. “The country’s consumption super-cycle is at a vibrant stage of its upward trajectory and we are leaning into the market with conviction and discipline. Structural tailwinds are propelling the expansion of businesses in many categories, and we are focused on identifying and partnering with the ones which have robust fundamentals and are best positioned for long-term success,” Mehta said.
Also Read | L Catterton said to be in talks to acquire minority stake in Nandhana Palace Naik joins L Catterton with about two decades of experience across private equity, venture growth and finance in India. Most recently, he was at 360 ONE Asset, where he led numerous investments in consumer and consumer technology businesses. Those investments spanned beauty and personal care, consumer internet and digital platforms, fashion and apparel, food delivery, health and wellness, packaged food and beverages, quick commerce, restaurants and cloud kitchens. Consumer focus “Chetan is an astute dealmaker with credentials investing in and scaling up consumer businesses that have come to be renowned brands in India. His capabilities complement our dealmaking and operating expertise in the growth and buyout space,” Kumaraswamy said.
“This augments our differentiated offering in the country and we look forward to leveraging his experience as we continue to develop and capitalise on our strong pipeline of investment opportunities at the intersection of various consumer themes in India,” he added. Also Read | JSW One Platforms appoints bankers for $350-400 million IPO next year Over the course of his career, Naik has partnered with founders and management teams to help build category-leading businesses, resulting in multiple investments that generated successful exits with multibagger returns. “India's consumer economy continues to present compelling opportunities, spurred by innovation, evolving consumer preferences, and a thriving entrepreneurial ecosystem,” Naik said in the statement. Before joining 360 ONE Asset, Naik was vice president at TVS Capital Funds.
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